Larson Financial Group LLC Sells 2,265 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Larson Financial Group LLC lowered its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 83.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 450 shares of the company’s stock after selling 2,265 shares during the period. Larson Financial Group LLC’s holdings in Zoom Video Communications were worth $32,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ZM. Acadian Asset Management LLC lifted its stake in shares of Zoom Video Communications by 639.9% in the 3rd quarter. Acadian Asset Management LLC now owns 1,629,081 shares of the company’s stock valued at $113,916,000 after acquiring an additional 1,408,908 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Zoom Video Communications by 4.6% in the 3rd quarter. Vanguard Group Inc. now owns 22,695,541 shares of the company’s stock valued at $1,587,326,000 after acquiring an additional 1,000,005 shares during the last quarter. ARK Investment Management LLC lifted its stake in shares of Zoom Video Communications by 7.7% in the 4th quarter. ARK Investment Management LLC now owns 10,964,576 shares of the company’s stock valued at $788,463,000 after acquiring an additional 781,663 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of Zoom Video Communications by 5,787.2% in the 4th quarter. International Assets Investment Management LLC now owns 583,190 shares of the company’s stock valued at $41,937,000 after acquiring an additional 573,284 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its stake in shares of Zoom Video Communications by 36.4% in the 4th quarter. Pacer Advisors Inc. now owns 1,826,433 shares of the company’s stock valued at $131,339,000 after acquiring an additional 487,796 shares during the last quarter. Institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Stock Performance

Shares of NASDAQ:ZM opened at $62.00 on Friday. Zoom Video Communications, Inc. has a 52-week low of $58.87 and a 52-week high of $75.90. The firm has a market capitalization of $19.07 billion, a P/E ratio of 30.39 and a beta of -0.07. The stock has a 50 day moving average price of $64.57 and a 200-day moving average price of $65.78.

Zoom Video Communications (NASDAQ:ZM) last announced its earnings results on Monday, February 26th. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.34. Zoom Video Communications had a return on equity of 9.68% and a net margin of 14.08%. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.13 billion. On average, equities analysts forecast that Zoom Video Communications, Inc. will post 2.15 EPS for the current fiscal year.

Insider Transactions at Zoom Video Communications

In related news, CFO Kelly Steckelberg sold 5,007 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $59.36, for a total transaction of $297,215.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Kelly Steckelberg sold 5,007 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $59.36, for a total transaction of $297,215.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Aparna Bawa sold 816 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $66.60, for a total value of $54,345.60. Following the transaction, the chief operating officer now directly owns 1,978 shares of the company’s stock, valued at approximately $131,734.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 93,224 shares of company stock valued at $5,872,091. Corporate insiders own 11.28% of the company’s stock.

Analyst Ratings Changes

ZM has been the subject of a number of recent research reports. BNP Paribas lowered Zoom Video Communications from a “neutral” rating to an “underperform” rating and set a $60.00 target price for the company. in a research note on Thursday, January 18th. Jefferies Financial Group began coverage on Zoom Video Communications in a research note on Tuesday, March 19th. They issued a “hold” rating and a $70.00 target price for the company. Rosenblatt Securities upgraded Zoom Video Communications from a “neutral” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Thursday, April 18th. Wedbush restated a “neutral” rating and set a $80.00 price target on shares of Zoom Video Communications in a report on Tuesday, February 27th. Finally, Piper Sandler boosted their price target on Zoom Video Communications from $69.00 to $72.00 and gave the company a “neutral” rating in a report on Friday, January 12th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Zoom Video Communications presently has a consensus rating of “Hold” and a consensus target price of $77.56.

About Zoom Video Communications

Zoom Video Communications, Inc provides unified communications platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. The company offers Zoom Meetings that offers HD video, voice, chat, and content sharing through mobile devices, desktops, laptops, telephones, and conference room systems; Zoom Phone, an enterprise cloud phone system; and Zoom Chat enables users to share messages, images, audio files, and content in desktop, laptop, tablet, and mobile devices.